The Growth Premium Persists in SaaS Valuations
As the world follows every whisper & rumor from AI, what has happened to public SaaS?
The answer is not much! All the fun is in the private markets.
Multiples haven’t moved outside of a narrow band since the post-Covid crash in 2022.
Even here, AI is the story, with AI SaaS companies seeing different valuation correlates : revenue growth. Meanwhile, non-AI SaaS companies are valued more broadly with efficiency metrics included.